On 1/2/15, Toronto Dominion Bank's Class A First Preferred Shares, Series Q (TSX: TD-PRQ.TO) will trade ex-dividend, for its quarterly dividend of $0.35, payable on 1/31/15. As a percentage of TD.PRQ's recent share price of $26.28, this dividend works out to approximately 1.33%, so look for shares of TD.PRQ to trade 1.33% lower — all else being equal — when TD.PRQ shares open for trading on 1/2/15. On an annualized basis, the current yield is approximately 5.33%.

As of last close, TD.PRQ was trading at a 5.12% premium to its liquidation preference amount. Investors should keep in mind that the shares are not cumulative, meaning that in the event of a missed payment, the company does not have to pay the balance of missed dividends to preferred shareholders before resuming a common dividend.The chart below shows the one year performance of TD.PRQ shares, versus TD:

Performance Comparison Chart

Below is a dividend history chart for TD.PRQ, showing historical dividends prior to the most recent $0.35 on Toronto Dominion Bank's Class A First Preferred Shares, Series Q:

TD.PRQ+Dividend+History+Chart

In Wednesday trading, Toronto Dominion Bank's Class A First Preferred Shares, Series Q (TSX: TD-PRQ.TO) is currently trading flat on the day, while the common shares ( TD - Get Report) are trading flat.